(A) Any and all requests or applications for consideration of projects under the Commercial Redevelopment Plan shall submit an application therefor which shall provide basic information regarding the following:
(1) The name of the individual or firm which is seeking consideration.
(2) The nature or kind of project to be considered and whether such project is new construction, addition, alteration or what type of construction is anticipated.
(3) The site on which the project is to be located together with the owner and occupant, if any, of such project. Such description shall include a plat and indicate the size of the lot or site.
(4) The architect or engineer for the project or the builder or construction firm for the project.
(5) The total estimated cost of all work to be done.
(6) The anticipated completion date for the project.
(7) A complete and current financial statement for the applicant or a tentative commitment from a bona fide financial institution or individual for the purchase of the bond.
(B) Contemporaneous with the filing of application, the applicant shall pay at the office of the City Clerk a fee in the amount of .25% of the total bonds requested in the application. The application fee shall be retained by the city to help defray the additional costs in connection with such bond issue; except, the city shall rebate the entire application fee if the state, or any agency thereof, or the United States of America, or any agency thereof, shall take any action which has the effect of rendering the Commercial Redevelopment bond method of financing of the proposed project not feasible.
(C) All memoranda of intent shall be drafted so that they are in full force and effect for a maximum period of one year or such further time as may be extended by agreement of the parties.
(D) Any projects which have been commenced but have not been completed and for which memoranda of intent have been executed shall be required to submit the application referred to in this section and provide the information and the fee referred to in this section within 30 days from passage of this section.
(Ord. 80-4407, passed 8-5-1980; Am. Ord. 81-4421, passed 12-15-1981)